Complaint Review: Countrywide Full Spectrum Lending - Cincinnati Ohio

Countrywide is going belly up. They are getting ready to lay of 12,000 employees or about 20% of their workforce and their stock price has dropped by half since the beginning of this year. Doesn't sound like a very solvent company to me.

It just doesn't make any sense. We aren't out to get you. You are why we are here. Giving you the short end of the stick is only going to come back around our way. There is alot that can be said regarding the market and Countrywide and the subprime market and property values and lending practices etc. The list goes on. Bottom line is that the market is in rough shape and we are all feeling the effects. Those who cashed in on the boom in property values in the early 2000's are turning out to be upsidedown in their mortgages while property values plummet along with the foreclosure rate. And yes, it is getting tough to find a mortgage nowadays. Has alot to do with the secondary market and credit crunch. Not going to get into that, I'm tired. All I'm saying is that to use a company that stiffs our clients only stiffs us in the end. And that just doesn't get a company to a point where they hold 1 of every 5 homeloans in the country. I will say "I'm sorry", if you had a bad experience with one of my fellow employees. I cannot vouch for everyone in the company to say that we are all honest people; I can really only vouch for myself and those I know. So next time you are in the market for a home loan, email me. I'll make sure you're taken care of. No BS.

I just don't understand why we would exclusively use an appraisal company that is consistently inaccurate when it costs us money as well to have appraisals come in short? We lose loans to appraisals that don't come in at what the homeowner's estimated property value or even at our own estimated value on a regular basis. As salespeople, units are our paycheck and our livelihood, and when we lose the ability to write a loan because homeowner's owe more than the property value at the time of the appraisal. There are very few cases where an appraisal comes in unjustifiably short. In those cases, we are left with no other option but to order another appraisal; usually at the homeowner's expense. What I'm trying to say is why would Countrywide, THE largest mortgage lender in the country, use an appraisal company that is consistently inaccurate? How can we be where we are at if our business practices are as questionable as the headlines have been reading as of lately? Granted, I can only speak for myself and my co-workers in the office, but it is important to know that most of us do our best to do the right thing in every situation. It is against company policy to even write a loan if there is no financial benefit to the borrower.

I just don't understand why we would exclusively use an appraisal company that is consistently inaccurate when it costs us money as well to have appraisals come in short? We lose loans to appraisals that don't come in at what the homeowner's estimated property value or even at our own estimated value on a regular basis. As salespeople, units are our paycheck and our livelihood, and when we lose the ability to write a loan because homeowner's owe more than the property value at the time of the appraisal. There are very few cases where an appraisal comes in unjustifiably short. In those cases, we are left with no other option but to order another appraisal; usually at the homeowner's expense. What I'm trying to say is why would Countrywide, THE largest mortgage lender in the country, use an appraisal company that is consistently inaccurate? How can we be where we are at if our business practices are as questionable as the headlines have been reading as of lately? Granted, I can only speak for myself and my co-workers in the office, but it is important to know that most of us do our best to do the right thing in every situation. It is against company policy to even write a loan if there is no financial benefit to the borrower.

I just don't understand why we would exclusively use an appraisal company that is consistently inaccurate when it costs us money as well to have appraisals come in short? We lose loans to appraisals that don't come in at what the homeowner's estimated property value or even at our own estimated value on a regular basis. As salespeople, units are our paycheck and our livelihood, and when we lose the ability to write a loan because homeowner's owe more than the property value at the time of the appraisal. There are very few cases where an appraisal comes in unjustifiably short. In those cases, we are left with no other option but to order another appraisal; usually at the homeowner's expense. What I'm trying to say is why would Countrywide, THE largest mortgage lender in the country, use an appraisal company that is consistently inaccurate? How can we be where we are at if our business practices are as questionable as the headlines have been reading as of lately? Granted, I can only speak for myself and my co-workers in the office, but it is important to know that most of us do our best to do the right thing in every situation. It is against company policy to even write a loan if there is no financial benefit to the borrower.

I just don't understand why we would exclusively use an appraisal company that is consistently inaccurate when it costs us money as well to have appraisals come in short? We lose loans to appraisals that don't come in at what the homeowner's estimated property value or even at our own estimated value on a regular basis. As salespeople, units are our paycheck and our livelihood, and when we lose the ability to write a loan because homeowner's owe more than the property value at the time of the appraisal. There are very few cases where an appraisal comes in unjustifiably short. In those cases, we are left with no other option but to order another appraisal; usually at the homeowner's expense. What I'm trying to say is why would Countrywide, THE largest mortgage lender in the country, use an appraisal company that is consistently inaccurate? How can we be where we are at if our business practices are as questionable as the headlines have been reading as of lately? Granted, I can only speak for myself and my co-workers in the office, but it is important to know that most of us do our best to do the right thing in every situation. It is against company policy to even write a loan if there is no financial benefit to the borrower.